SEN DAVE McCORMICK: Trump Accounts give all Americans a stake in prosperity
The article promotes a new "Trump Account" program that provides a $1,000 government contribution to newborns and an additional $250 for low‑income children, slated to begin on July 4. The initiative is described as part of President Trump’s Working Families Tax Cuts Act, which the author supported in the Senate. The piece also cites rising wealth inequality as a rationale for expanding ownership stakes among ordinary Americans.
- ▪The Trump Account program will give every child born between 2025 and 2028 a $1,000 Treasury seed, with an extra $250 for children ten and under in lower‑income communities.
- ▪The funding for the accounts is said to come from philanthropy rather than direct federal appropriations.
- ▪Senator Dave McCormick, the author, notes he cast the deciding Senate vote for the Working Families Tax Cuts Act that created the accounts.
- ▪The article highlights that the top one percent now owns about half of all U.S. stock while the bottom half of households own roughly one percent.
- ▪Treasury Secretary Scott Bessent is quoted discussing the benefits of the program for newborns.
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Opinion SEN DAVE McCORMICK: Trump Accounts give all Americans a stake in prosperity Trump Accounts give 25 million American children a real ownership stake in the economy By David McCormick Fox News Published July 7, 2026 5:00am EDT Facebook Twitter Threads Flipboard Comments Print Email Add Fox News on Google close Video Treasury Secretary Scott Bessent details benefits of new Trump Accounts for newborns Treasury Secretary Scott Bessent discusses the new Trump Accounts, a program offering a $1,000 government contribution for newborns. NEWYou can now listen to Fox News articles! Last week, my friend Senator John Fetterman and I stood on a court at the 6th Man Center — a Philadelphia Youth Basketball facility in North Philly — watching dozens of children crowd around their phones grinning.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at Fox News.
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